Results from the New South Wales Minerals Council’s latest annual Member Expenditure Survey have revealed record investment in the Hunter region.
In the last financial year, participating mining companies supported almost 16,600 jobs in the Hunter, an increase of almost 1300 jobs compared to the previous year.
The same companies also directly injected $8.8 billion into the region’s economy in the last financial year – an increase of around $600 million on the previous year.
It’s the highest number of jobs reported and highest financial investment ever recorded in the thirteen-year history of the survey.
Since the survey was first conducted, mining’s direct spending in the Hunter has almost doubled from $4.6 billion to $8.8 billion.
Mining jobs in the region have also increased by 50 percent since the survey was first conducted, from 10,800 up to 16,600 jobs.
The $8.8 billion of direct mining spending in the Hunter last financial year included almost $2.2 billion on wages and salaries, and $6.6 billion for goods and services purchased from almost 2800 mining supplier businesses across the Hunter region.
The $8.8 billion in direct mining spending last financial year in the Hunter is estimated to have contributed 25 per cent of gross regional product of the Hunter’s economy during this period.
“Mining operations in the Hunter have broken local spending records for the second year in a row, while supporting a record number of local mining jobs, highlighting the importance of mining for local communities and the region’s economy,” NSW Minerals Council chief executive officer Stephen Galilee said.
“The ongoing strength of the mining industry continues to provide a solid foundation for Hunter economy, and with the right policy settings this can continue for many years to come.”
